Regulatory Alerts2022-01-01
Decision No. 193 of 2022 on Underwriting Regulations for Credit and Guarantee Insurance Documents
The Financial Regulatory Authority (FRA) issued Decision No. 193 of 2022, establishing mandatory underwriting guidelines for credit and guarantee insurance policies within the miscellaneous accidents division of property and liability insurers. The regulation standardizes documentation procedures, clarifies risk assessment criteria, and requires all licensed companies to align their underwriting practices with the specified framework. These provisions enhance market transparency, mitigate operational risks, and ensure consistent compliance across the insurance sector.
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